Distressed Debt & Claims Trading

Alston & Bird’s Distressed Debt & Claims Trading Team advises buy-side and sell-side clients, including broker-dealers, investment banks, hedge funds, CLOs, private equity funds, and other investment entities in all aspects of the primary and secondary trading markets of domestic and international par and distressed debt, private securities, bankruptcy claims, and other obligations of distressed companies. One of the largest in the nation, our trading team is able to closely monitor market developments and issues, assisting clients in efficiently and timely addressing their most pressing needs.

In addition to identifying risks associated within a given transaction and framing the ideal structuring and settlement options, our trading team has extensive experience drafting and negotiating trade confirmations, purchase and sale agreements, participation agreements, collateral agreements, proceeds letters, securities purchase agreements, vendor put agreements, rights offerings, total return swaps, and other related trading and financing documentation. We frequently guide clients through all aspects of portfolio transactions, including due diligence, analysis of regulatory issues, coordination and supervision of local counsel, and negotiation and drafting of bid, sale, and transfer documents.

Our Distressed Debt & Claims Trading Team effectively leverages the resources of Alston & Bird’s national and international capabilities by working closely with attorneys from multiple disciplines—insolvency and restructuring, finance, regulatory and compliance, structured products, financial services, private equity, derivatives, and tax—to comprehensively manage risk preferences, navigate complex capital structures, and efficiently advise our clients in all phases of their debt, equity, and claims-related transactions. Clients frequently consult with restructuring and finance attorneys at Alston & Bird before making investment decisions to better understand the investment opportunities and risks in different asset classes within a company’s capital structure.

We are active in both the Loan Syndications and Trading Association (LSTA) and the Loan Market Association (LMA), serving on committees and working groups and taking leadership roles in developing trading conventions and drafting updates to standard documentation for the loan trading markets. The LSTA frequently calls on our team to assist in developing market guidance on trading conventions to address current market issues and promote market efficiency and liquidity. Team members regularly speak as panelists at LSTA and LMA conferences covering a range of topics, including secondary trading issues, documentation, and settlement. Our team also provides customized in-house training seminars to clients on issues related to the debt, equity, and claims trading markets.